Question: $ $ Consider the following financial data for Shannon's Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents 96,000 Accounts

$ $ Consider the following financial data for Shannon's Computer Stores: Statement of Financial Position as of December 31, 2012 Cash & equivalents 96,000 Accounts payable Accounts receivable 102.500 Short-term bank noto Inventorios 225.500 Accrued wages and taxes Total current assets 5 424 000 Total short-term liab. Long-term debt Net foxed assets 576 000 Common equity Total assets 1.000.000 Total liabilities & equity Income Statement for the Year Ended December 31, 2012 Net sales 585,000 Cost of sales 374.500 Gross profit $ 210,500 Operating expenses 28.000 Earnings before interest and taxes (EBIT) 112.500 Interest expense 51.500 Earnings before taxes (EBT) $ 61,000 Federal and state income taxes (45 percent) 27.450 Not income $ 33.550 60,000 117,000 58.000 230,000 350,000 420.000 1.000.000 $ $ Calculate Shannon's total asset turnover. a. 2.59 1.0.59 OG 3.36 d. 14.88 O. 1.55

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